Avid Bioservices Inc (CDMO)

[Fire Fox]

WOW! Have you seen the new Bavi MOA images on the PPHM website: http://www.peregrineinc.com/technology/bavituximab-oncology/mechanism-of-action.html

This is a picture summary of yesterday's CC and why we will end up in the arms of an immunotherapy partner (e.g. Roche, BMY or Merck) very soon.

I especially like the new focus on T-Cells at the conclusion of both the 2nd image and the 3rd image. The 2nd image shows that without Bavi you end up at the far right of the image with just plain T-Cells that are not "cytotoxic, i.e. they are not "Killer T-Cells".

The third image shows that with Bavi you end up at the far right with Cytotoxic T-Cells PLUS a separate ADCC killing mechanism resulting from the M1 macrophage repolarization.

These slides will make it easy for analysts and media writers to understand the "upstream" nature of how Bavi increases Killer T-cells as compared with the downstream MOA that PD-1 etc use to increase Killer T-cells. At the Wedbush conference in mid-August and the Stifel conference in mid Sept., these images will make it a cake-walk for SK to explain to analysts why Bavi's upstream immunotherapy MOA has advantages that are separate and different from the MOA of all the other downstream immunotherapies --- and why all the downstream players will benefit from the synergies that come from combining both the upstream and downstream MOAs.

... and then SK whips out the data emerging from the preclinical trials currently running ("well advanced" was SK's description yesterday) with BMY, Merck and Roche.

Now if you were an analyst in that audience, what would be the first phone call you would make to your trading desk after SK sits down ???